Balboa Wealth Partners Invests $253,000 in Constellation Brands, Inc. (NYSE:STZ)

Balboa Wealth Partners purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 984 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neumann Capital Management LLC raised its position in Constellation Brands by 1.8% in the third quarter. Neumann Capital Management LLC now owns 4,637 shares of the company’s stock valued at $1,195,000 after purchasing an additional 80 shares during the period. ING Groep NV grew its stake in shares of Constellation Brands by 387.3% in the third quarter. ING Groep NV now owns 90,955 shares of the company’s stock valued at $23,438,000 after buying an additional 72,291 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Constellation Brands by 1.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,205 shares of the company’s stock valued at $1,084,000 after buying an additional 52 shares during the period. Metis Global Partners LLC lifted its position in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares in the last quarter. Finally, Curi RMB Capital LLC lifted its position in Constellation Brands by 30.5% during the 3rd quarter. Curi RMB Capital LLC now owns 1,674 shares of the company’s stock worth $431,000 after acquiring an additional 391 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by company insiders.

Constellation Brands Trading Down 1.9 %

NYSE STZ opened at $237.51 on Friday. The firm has a market capitalization of $43.12 billion, a PE ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The company has a 50-day simple moving average of $244.36 and a 200-day simple moving average of $248.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.70 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STZ. Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Evercore ISI decreased their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Bank of America reaffirmed a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.